Newer Two-Unit
For Sale
$365,000
12105 / 12107 W Shadow Lakes St, Maize, KS 67205
Residential Income, Maize, KS
Property Size2,316 SF
Lot Size0.19 Acres
Price / SF$157.60
Days on Market172
Property Features for 12105 / 12107 W Shadow Lakes St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Parking features
On Street
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator
Subdivision
OASIS
Elementary school
Maize USD266
Middle school
Maize
High school
Maize
Elementary school district
Maize School District (USD 266)
Middle school district
Maize School District (USD 266)
High school district
Maize School District (USD 266)
Directions
West on Shadow Lakes St
Standard status
Active
APN
30-014066
Size
2,316 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 27 BLOCK A OASIS ADDITION
Tax Annual Amount
6166
HOA Fee
$1,600 Annually
Legal Description
LOT 27 BLOCK A OASIS ADDITION
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Heat Pump (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
2022
Number of units
2
Building materials
Masonite
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Genni Trilli · License #00244599
(316) 558-0067
Added: Apr 10
Changed: Sep 6
Last Checked: Sep 28 at 4:06AM
MLS# 671103
Copyright © 2026 South Central Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2022, this duplex at 12105 / 12107 W Shadow Lakes St in Maize, Kansas, contains 2,316 square feet on a 0.1872-acre lot. Each side includes three bedrooms, two bathrooms, a primary suite, dedicated laundry space, pantry storage, quartz countertops, and a kitchen appliance package with a dishwasher, disposal, microwave, range, and refrigerator. Tenants have recently vacated, while fresh interior paint and final make-ready work are being completed.
The property is served by public water, with natural gas available and heat pump heating paired with electric cooling. Irrigation wells are in place for the lawns, and on-street parking is provided. The exterior includes Masonite construction, a composition roof, and four years of special taxes already paid.
The property is served by public water, with natural gas available and heat pump heating paired with electric cooling. Irrigation wells are in place for the lawns, and on-street parking is provided. The exterior includes Masonite construction, a composition roof, and four years of special taxes already paid.
Key Highlights
- 2022‑built duplex with 2,316 square feet on a 0.1872‑acre lot
- Each unit has 3 bedrooms, 2 bathrooms, a primary suite, laundry area, and pantry
- Quartz countertops and kitchen appliances included in both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,365
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,300
$387.3K
Cap Rate 7%
$276,643
$276.6K
Cap Rate 9%
$215,167
$215.2K
Market Conditions
NOI Build-Up for 2,316 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.2K $12.60/SF
− Vacancy
−$1.5K −$0.66/SF
EGI
$27.7K $11.94/SF
− OpEx
−$8.3K −$3.58/SF
NOI
$19.4K $8.36/SF
Area
ZIP 67205
Vacancy
5.20%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,300
Cap Rate 7%
$276,643
Cap Rate 9%
$215,167
Alternative Uses
Best Use
Multifamily LT 5
$276.6K
$242.1K – $322.8K
NOI $19,365 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$255.2K
$223.3K – $297.7K
NOI $17,861 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$491.7K
$430.2K – $573.6K
NOI $34,418 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 67205, KS
20,461
Population
7,467
Households
2.7
Avg Household Size
40
Median Age
50%
College-Educated
98%
High-School Grad
16.9 sq mi
ZIP Area
1,211
Density / Sq Mi
$120,630
Median Household Income
$65,457
Median Earnings
$1,237
Median Rent
$314,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms, two bathrooms, quartz counters, and included kitchen appliances.
Where is this duplex located?
The property is located at 12105 / 12107 W Shadow Lakes St Maize, KS.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 2022‑built duplex with 2,316 square feet on a 0.1872‑acre lot; Each unit has 3 bedrooms, 2 bathrooms, a primary suite, laundry area, and pantry; Quartz countertops and kitchen appliances included in both units
